"BTS's recent chart success is meaningful because it implies one of the victories that the group ― which consists of non-white, non-American performers ― and its global fans have achieved in the ideological battle against the white-dominated American entertainment industry," Stephanie Choi, an adjunct assistant professor in the Department of East Asian Studies at New York University College of Arts and Science, said in a recent Korea Times interview.īrooklyn-based music journalist Maria Sherman, who authored the 2020 book "Larger Than Life: a History of Boy Bands From NKOTB To BTS," pointed out that BTS's continued dominance is a testament to its "massiveness."
The K-pop megastars have hit an apex in their career with this feat, but their accomplishment deserves more attention for many reasons, according to industry experts. The former, however, dethroned the latter only a week later and has since ruled the chart for nine non-consecutive weeks as of Monday (local time.) 1 song of 2021.įollowing its May 21 release, "Butter" reigned atop the chart for seven weeks in a row before yielding the spot to another BTS anthem, "Permission to Dance," dropped July 9. K-pop behemoth BTS has etched its name into history, with its summer banger "Butter" becoming the Billboard main singles chart's longest-running No. This story was updated after the end of Wednesday trading.From left, V, Suga, Jin, Jungkook, RM, Jimin and J-Hope of K-pop titan BTS pose during a press conference in Seoul, May 21.
In 2019, 20, BTS’ share declined to 78.5%, 70.3% and 49.0%, respectively, as Seventeen, Tomorrow X Together and Enhypen gained popularity. In 2018, BTS accounted for 100% of the company’s U.S. HYBE’s Korean artist roster has also become more diversified in recent years. Artists managed by SB Projects accounted for 7.5 million album equivalent units in 2021. Big Machine Label Group, led by Thomas Rhett and Florida Georgia Line, accounted for 4.8 million album-equivalent units. music sales and streams, Ithaca Holdings - which includes label and management clients - made up 45% of HYBE’s U.S. HYBE’s 2021 acquisition of Ithaca Holdings from Scooter Braun made the company less reliant on BTS to drive revenue. BTS’s four-night stand at SoFi Stadium in Los Angeles last December sold 200,000 tickets and grossed $33.3 million, according to Billboard Box Score - the sixth-highest grossing engagement in Boxscore history. Nearly 200,000 of those tickets came from just four shows at Allegient Stadium in Las Vegas. On top of that, BTS likely accounted for nearly all HYBE’s touring income that amounted to 191.1 billion ($148 million) in 2019 and 45.6 billion KRW ($36 million) 2021.īTS ranked fourth on Billboard Boxscore’s mid-year 2022 list of top tours after selling 458,000 tickets for 11 concerts. In Japan - the world’s second-biggest music market - BTS accounted for about half of HYBE’s album sales, according to the company’s 2021 earnings. album sales and streams in 2021, according to the company’s fourth quarter 2021 investor presentation.
Two smaller music companies, Believe and Reservoir Media, are down 51.5% and 23.9%, respectively, through Tuesday.Ĭompanywide, BTS accounted for 27% of HYBE’s U.S. Through Tuesday, Universal Music Group and Warner Music Group are down 16.7% and 36.5% year to date, respectively. Record labels and music publishers have not been immune to recent stock market volatility. HYBE wasn’t the only music stock to fall sharply in 2022, however. Wednesday’s selloff put HYBE’s share price down 58.5% year to date. Will BTS' Label Take a Big Hit From Band's 'Hiatus'?